Flowserve Co. (NYSE:FLS) Stock Position Decreased by Shelton Capital Management

Shelton Capital Management lowered its holdings in Flowserve Co. (NYSE:FLS) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,958 shares of the industrial products company’s stock after selling 388 shares during the period. Shelton Capital Management’s holdings in Flowserve were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC raised its stake in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the third quarter valued at $29,000. UMB Bank n.a. increased its holdings in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 275 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLS. Stifel Nicolaus boosted their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup cut their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Performance

Flowserve stock opened at $41.73 on Friday. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. The stock has a 50-day simple moving average of $52.34 and a 200 day simple moving average of $56.12. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.